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steve, what do you think of this romney tax plan? >> it increases take-home pay, middle class family, $2,000 extra in their take-home pay, and more importantly it reduces the price of doing work, being productive and taking risks. lowering that price, lowering tax rates. that's the way to get the economy going. worked for kennedy, for reagan, worked in the early part of the last decade. it will work again. >> we have to do something. since the recovery began, by the way, june 2009, household incomes are down 5.7%. that's since the recovery. when you're in a recovery, incomes are supposed to go up. >> yeah. what's disstressing and concerning is, at this point i don't know what governor romney has in mind. he's been saying all along he'll reduce taxes and shows up in ohio -- >> reducing tax rates. >> he shows up and says don't expect a huge tax cut, because what he's doing is lowering deductions and exemptions. great. i wonder if somebody will get around to telling me what those deductions and exemptions are that he's going to lower. he's been running for president for seemingly
tax cuts. you can't compare in the state of ohio where a new york times cbs poll shows mitt romney down by ten percentage points, president obama ahead on the economy, 6 in 10 voters, nearly 6 in 10, that is, said mitt romney's policies would favor the rich and mitt romney doesn't care about people like them. president obama's driving that message, going after mitt romney's predictions that he'll be tough on china saying that if you look at romney's record at bain capital, all that talk is fake. >> when you hear this newfound outrage, when you see these ads, these running problems seem to get tough on china, it seems a lot like that fox saying we need more secure chicken coops. i mean, it's just not credible. >> and larry, you can hear the confidence in president obama's voice because not only in ohio is he ahead, but in all of the major swing states president obama's got a lead right now. mitt romney's got to find a way to turn that around, turn it around in the debates, and maybe the tax cut issue that you're talking about will be one tool in that arsenal. back to you, larry. >>
and your taxes. >> unlike president obama, i will not raise tax on the middle class of america. >> i want to reform the tax code so it's simple, fair. >> the candidates' opinions couldn't be more different and the stakes couldn't be higher. >> their philosophy is if you don't are health insurance, don't get sick. >> now is the moment we can do something. and with your help, we will do something. >> cnbc's coverage of the first presidential debate of the 2012 presidential election begins now. >> tonight some of the most influential figures in the nation on the economy join us here on cnbc. >> we've got representative and hopeful ron paul with us. texas, from texas. he is of course outspoken about the federal reserve policies. robert reich is here with us tonight. also with us grover norquist. the man behind the no new taxes pledge so many republicans made. and bob lutz a former top auto executive. the auto bailout expected to be a big topic tonight. and we've got president of the aflcio. unions of course a major constituency. and roger altman. as you can see the lineup card is full. going
on the trail. it is the gift that keeps on giving. >> how they can justify. raising taxes in the middle class. it has been buried in the last four years. how in the lord's name. >> that is nodt a froidian slip. plus three stories that happen to break before the election. a leftist new york attorneyy general looking to bash banks and that is as phony as a $3 bill. also a judge strikes down pennsylvania's voter id law and the obama administration is telling companies it is okay to disregard the law when it comes to handing out pink slips in advance to big budget cuts. all three happening before the election. mitt romney has finally put meat on the bones of his tax reform idea. he floated the idea of a $17,000 cap on tax reform reduction. >> you could say everyone is going to get up to a $17,000 deduction. you can fill that bucket if you will and higher income people might have a lower number. >> this is brand new stuff. we have howard dean former vermont governor and candidate. and let's look at this for a second. what do you think? a $17,000 cap on tax deductions for everybody as a way of bein
could be accurate or not. what is the person saying there should not be a millionaire tax or should be. who is the special interest dominating that message point coming out and how does the voter get through it? i think one the most amazing thicks happening in the country when you look at the president number heys doing well. what's fascinated about the amount of money being spent by the cross roads and the entity for some reason the message is not coming through it's not compel fpg you look at the swing states that we were going to be remarkably close are going to trend toward tbhawm a way that somebody thinks to seem unless the debate set the presidential election. it's clear the spt heading toward a environment he has a advantage. romney is going to be exceptional. >> tune in. >> fiewn in and watch. let watch. >> i'm excited. >> talk about in next week in class. >> would you taunt the cross road different and you engage in more localized races congressional and senate how you choose your priorities since so you have a broader scope. >> yeah. that's a good question. we're focused on
. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis and the autonomous region, some of which including catalonia are looking trying to get some form of assembly. it is a toxic mix. >> imagine that there will be pressure on markets as this they think unfolds. we're also counting down to the wire here of course in the presidential election. and joining us on the set, bill richardson, former governor of new mexico. you're in town for the u.n. >> that's right. i was with a group of democrats and republicans yesterday at the
believes with bigger tax cut for wealthy and fewer regulation on wall street, all of us will prosper. he'd double down on the same trickle-down policies that led to the crisis in the first place. >> now the labor department has also revised upward the private sector jobs created by the president to 5.1 million. a hopeful sign that might be pulling the president up in those polls. bret? >> bret: okay, ed. ahh. numbers from wall street were a bit better today. dow gained 72 to snap a four-day slide. s&p 500 was up 14. the nasdaq finished ahead 43. still ahead, jim angle takes his slide rule to mitt romney's tax plan. first, are democrats losing some of their advantage in registered voters? greetings from the windy city of chicago. people here sure are friendly but some have had a hard time understanding my accent. so to make sure people get every word of the geico savings message i've been practicing how to talk like a true chicagoan. switching to geico could save you hundreds of dollars on car insurance... da bears. haha... you people sure do talk funny. geico®. fifteen minutes could sav
't say tonight that that tax bill he vetoed raised taxes only on the rich and gave the rest of you a break -- but he vetoed it anyway. i offer a new direction. invest in american jobs, american education, control health care costs, bring this country together again. i want the future of this country to be as bright and brilliant as its past, and it can be if we have the courage to change. [applause] >> president bush, your opposing statement. >> let me tell you a little what it's like to be president. in the oval office, you can't predict what kind of crisis is going to come up. you have to make tough calls. you can't be on one hand this way and one hand another. you can't take different positions on these difficult issues. and then you need a philosophical -- i'd call it a philosophical underpinning. mine for foreign affairs is democracy and freedom, and look at the dramatic changes around the world. the cold war is over. the soviet union is no more and we're working with a democratic country. poland, hungary, czechoslovakia, the baltics are free. take a look at the middle east. w
. yet people still say, well, he's trying really i've. lori: he wants to try to cut tax of year and a higher percentage. 75 percent individual income rate. >> it is absurd. there is no economic basis for that other than we don't think people ought to earn that much money, so we're going to take away. that is socialism at its very essence. and so you elected socialist president. voila. you're going to have socialist policy, and that is what you have. he comes out with a 75% tax rate i chased the wealth of france. if you are a high income earner and investor, why on earth would you stay in france and have $0.75 out of every dollar taken away before you got a chance to spend it. almost any european country you could go and do better than that lori: do you think we're facing a similar path and the u.s. or do you expect americans to leave? >> it is very possible. there is some indication that some americans are already looking for ways to protect their income, protect their wealth. and you cannot blame them because of somebody -- i mean, it's the same thing. if i'm walking down sixth
about it? >> everybody pays taxes, whether they own a home or not, whether they have children or not, everybody pays for education, and every year they get worse education and it costs more. we've dumbed down our school program to rush kids through the system. why not do it the other way? why not had let the achieving kids rush through the system and get away from this burgeoning ed accuracy? beyond that, we're spending money on things that aren't being productive for our economy. let these achieving students, send them the message that if you achieve you will be rewarded. the idea we're going to get any of this taxpayer money back is kind of a mirage. taxpayers never get any money back. it will move on to the next boondoggle. i think it's a good idea. >> half of property taxes go to schools to be fair. tracy, the kids issue, you can get them out of your house two years earlier. what do you make about that? >> you know what, the money issue to me is separate from the academic development issue. i don't think these kids should be rushed through school. i do think there's a reason they
where they asked whether you would take the bargain of one dollar's worth of tax increases or $10 worth of basically tax cuts and everybody raised their hands and said they would not accept that. we have become a country where -- it is not just one side, both sides, but more one side now than ever is not willing to be realistic about how we can tackle these challenges. if there is a crisis that i see in the united states for the long term, it is not the temporal issue of how we will deal with money. because i am very confident we will be able to deal with that. it is how will we bring that -- bring back our sense of what we can accomplish together as americans when we are realistic about those challenges. that is the thing i think about the word "crisis" in this country. >> mayor castro is not the first to suggest that. for 10 years now, we heard that the government is not asking all of us to do enough. >> it is interesting. the word "sacrifice," when i hear a politician say that, it usually means grab your wallet. it usually means increasing taxes. and i will give president obama credi
, it will be impossible to bridge the gap without it. what mr. gore's plan will do causing huge payroll taxes or major benefit reductions. >> new question. are there issues of character that distinguish you from vice president gore? >> the man loves his wife and i appreciate that a lot. and i love mine. the man loves his family a lot, and i appreciate that, because i love my family. i think the thing that discouraged me about the vice president was uttering those famous words, "no controlling legal authority." i felt like there needed to be a better sense of responsibility of what was going on in the white house. i believe that -- i believe they've moved that sign, "the buck stops here" from the oval office desk to "the buck stops here" on the lincoln bedroom. it's not good for the country and it's not right. we need to have a new look about how we conduct ourselves in office. there's a huge trust. i see it all the time when people come up to me and say, i don't want you to let me down again. and we can do better than the past administration has done. it's time for a fresh start. it's time for a new l
worse economic news again. we saw that corporate tax has dropped by about a third from precrisis levels, basically small businesses are just not growing in this environment and big businesses are chasing profits abroad. so the government is just not getting the tax take on that front. in the asset classes, you can see some of the levels not that good at the moment. bundes still attracting a lot of attention. we've been waiting on spain to fishlgly l-- officially ask fo that aid. nonetheless, we're not seeing too much pressure on the periphery, 5.75%. let me send it back to you. >> thank you very much. the first presidential debate. john harwood is on the ground in denver. he joins us with the latest nbc news "wall street journal" poll. it looks like things are starting to even out at least a little. is this the bounce that president obama got after the democratic convention coming back down? >> well, i think it's the bounce from the convention and the surge that he got on top of the convention with that 47% video, so there is some good news for romney. not only our national poll, but a
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of canada to warrant is really a tax on the ground? >> the more important question, paul, is that isn't the red line in the minds of the israeli? canada has been consistent in saying that we continue to encourage the international community, the united nations, to keep the pressure on the iranian regime, to pursue sanctions, to pursue them -- diplomatic pressure where and when we have the opportunity. unfortunately, those opportunities are becoming less and less obvious. they are less and less effective. the preferred option always will be and remains these alternatives to keeping the pressure on on iran to bring about more acceptable behavior. trying to shift to the attitude of this regime and their leadership has proven to be enormous the challenging. >> my question was do you or do you not endorsed the prime minister of israel's red line. >> the israelis are going to make their own decisions. they will consult with their allies. they will continue to signal clearly their alarm over the nuclear ambitions of iran. we will continue to work with them, but these are sovereign decisions.
to a strip mall. details of a new building. >>> the property tax loophole that could tack on hundreds of thousands of dollars. >>> and why it's the end of an era for a south bay holiday tradition. >> good evening. i'm jeff ranieri in the nbc bay area weather center. we're tracking that dangerous heat with some of the hottest weather gripping the east bay. right now holding on strong to 100 degrees in livermore and it's never been this hot this time of the year in these five locations. new records set in gilroy, santa rosa, concord, napa and san jose. let you know how long it's going to last coming up. >>> a target store and starbucks on toxic land could be happening soon. the future is moving in on part of the silicon valley's fast. it's a checkered past. scott budman did digging into a parcel of land with a toxic history. >> it means a lot to the history of this area for good and bad and tonight it's back in the news and back in business. >> a beef piece of silicon valley history is being bulldozed. one of its last remaining orchards going away along with a big part of what made this
higher stock prices? let me give you my eight-point plan. point number one, we have to eliminate the tax on dividends entirely. if they're tax-free, people will buy them. i trust the balance sheets of corporate america far more than i trust the government's balance sheet. this is hardly a reckless position and would encourage companies to reward shareholders by issuing and raising dividends. i would actually raise the tax on capital gains. why? you get gains when you sell stocks. i don't want people to sell stocks. i want them to own stocks, not sell them. plus if you raised the tax on capital gains, the company that do buybacks would continue to do them, continue to waste the shareholders' money like they do now. put the money in the owners' pockets, not the sellers' pockets, by encouraging saving, not flipping. point number two, we have to clean up these markets. clean up the markets and encourage people on the sidelines to come back in. clean up the stables, like hercules. i would do that by appointing preek bharara as attorney general of the united states of america and have him go a
these tax breaks that they get, we are playing for these tax breaks. we need roads, police, et cetera, and as long as we allow them to pay 13% when they should be paying much more, they are taking health care away from children, that need -- the family can't take them to the doctor. they can't pay for utilities, et cetera, and so forth, and they need to understand, you know, once they get all of our money, they are going to destroy us. so they really need to change their attitude about what is going on here. >> stephanie: yep, i hear you honey. [♪ "world news tonight" theme ♪] >> stephanie: sometimes i'm distracted by headlines while i'm talking. michele bachmann, we must ban filafel in school lunches. >> scarborough: oh, sweet jesus! >> stephanie: she claims that that and other foods of that origin should be removed from school lunches. >> stephanie: she may be beaten this time. wow, you would finally be rid of that [ censor bleep ] and her big gay husband. >> i have just been told by kobe at current that the filafel story was a parody. >> stephanie: oh, okay.
they can justify raising taxes on the middle class that's been buried the last four years. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! >> today, heavy hitters are fighting back. senator marco rubio just now in denver. >> the last four years the american middle class has been buried. those aren't my words. those happened to be the words of the distinguished vice president of the united states, mr. joe biden. no, don't boo. he's the best thing we got going, guys. >> and how's this for trail mix? mitt romney got more than he bargained for when he posed at chipotle after ordering a burrito bowl in a photo op that's an internet sensation. good day, andrea mitchell live in denver at the site of tonight's presidential debate, the first time in five years that barack obama and mitt romney are going to be face-to-face in what the local newspaper is headlining as the duel in denver. joining me now for our daily fix,
are bound to vote for obama, the number of people who do not pay federal income tax, and the number of people who receive some sort of federal benefit, that that is all the same 47%. i doubt we will hear that again. >> anybody want to disagree? >> probably not. i do not know if that -- it was for consumption by a very small public. those with big wallets. >> that gives you an important aspect of our fact checking. we focus on the big, national messages, but we know there is lots of micro-targeting going on that is using very precise media to hit very precise audiences. we are not seeing that. we try, we asked readers to submit ideas through facebook and e-mail and what ever. we get a tiny portion of that. i think the case in point, this mailing i got from the romney campaign, maybe that is not going to be a message we hear romney assert at the debate, but it is clearly won the campaign is continuing to make. talk to campaign people, they will tell you, hey, you do not know about the ads you did not see that are running in tiny markets in ohio and florida and what ever. i think there
pads we inspected his brakes for free. and shoes at meineke. >>> another example of how the tax system often favors the wealthy. mitt romney's taking advantage of something that's perfectly legal but could become a political liability. lisa#r syesteaslooking into th. explain what's going on, lisa. >> well, wolf, this is a story that bloomberg first reported. it's about a trust that offers big benefits for mitty and his children and his 18 grandchildren. it's the kind of thing, you know, that lots of high net worth individuals will use to pass on wealth. but the question as you mentioned is is it becoming a political liability for romney? the romney family is a tight-knit clan. mitt and ann romney like many wealthy couples are working to make sure their wealth passes to their five sons and grandchildren. a family trust established as early as 1995 has amassed $100 million according to the romney campaign. mn's2011 tax records show he has set up an intentionally defector granter trust or idgt. also known as i dig it trust. in this case romney pays any income taxes on the assets in that
raising taxes on the middle class that's been buried the last four years. >> in the richest country in the history of the world this obama economy has crushed the middle class. >> reporter: romney's ad team quickly seized on the remarks churning out a web video. at an event in denver rubio piled on. >> those happen to be the words of the distinguished vice president of the united states mr. joe biden. no, don't boo. he's the best thing we got going, guys. don't boo. because in a moment of clarity, in a brief moment of clarity he just told us what we already knew. >> reporter: romney's aides say they expect the president to call on the gop nominee to offer specifics. >> we're going to limit deductions. >> reporter: but in an interview with the denver tv station, romney began to do just that. >> well, you could do something for instance as an option you could say everybody's going to get up to a $17,000 deduction. and you can use your charitable deduction or home mortgage deduction or others, health care deduction and you can fill that bucket. if you have a $17,000 bucket that way and
taxes on dividends. tom in california? >> caller: boo-yah, jim. thanks for your help. my issue is several stocks i have followed have suddenly taken a 3% dive and i read later that day that the company is making a public offering. >> right. >> caller: over the next several weeks, the stocks have frequently rebounded. any question is, is this a pattern you think we can count on and try to exploit? >> yes, this is a pattern that is going to happen. and i'll tell you why. there are still a lot of companies that want to expand and they've got a lot of credit, but they have higher credit lines, higher interest. they pay down some of that with equity, with the money they raise and then they get a better credit line. i think you're going to see a lot from the real estate investment trust industry and the master limited partnership. my favorite mistakes. well, nobody likes mistakes. but in the wild world of investing, nothing could be more valuable than the hard-learned lesson. so sit back and let's learn and become better investors. >> don't miss a second of "mad money." follow @jimcr
's budget plan will hurt the middle class. raising taxes on the average family by up to $2000 dollars. while giving a tax break of $250,000 dollars to multi-millionaires. doesn't mitt romney understand, we can't rebuild tearing down the middle class. priorities usa action is responsible for the content of this advertising. >>> a new effort tonight to clear up confusion over the new red top parking meters in d.c. emergency legislation earlier this year put the program on hold after furious drivers complained about getting $250 parking tickets. tomorrow council member mary shay will introduce a bill to outline the rules. only drivers with placards or license plates that permit handy capped parking will be allowed to park at the red topped meters. it will be compliant with the americans with disabilities ability. >>> martin o'malley threw down the gauntlet for mcdonnell today. they were on wtop radio. >> we can have a discussion how we can work together, to create jobs, an opportunity now and can be followed immediately by a push-up contest. >> a push-up contest? a mcdonanell's spo
, this is not the new normal. do not be satisfied with spending a bunch of tax money to keep this mediocre status quo. romney needs to get on that message. jon: simon, roughly half of all jobs lost have been lost by white men, so how does president obama try to appeal to them? >> well, was i think -- because i think the white men view the economy the way that most voters see it which is they know that things were really bad when president obama came to office, and things have gotten better. i know that not everybody who watches this believes that, but that's the case -- >> a lot of people who don't have jobs don't believe that. >> i know, but things are getting better. there's nobody spiking the football here on the economy, but clearly things are not only getting better from where they were when obama took office, but in the last few months -- [audio difficulty] as you just heard a minute ago is up, people are getting better, people feel it, and particularly in those battlegrounds you were describing in ohio, michigan, the saving of the awe eau industry was -- auto industry was a big deal. the presi
into a recession if the spending cuts and tax increases kick in all at once in january. that kind of uncertainty is freezing businesses from doing any hiring. >> alison kosik, thank you. "cnn newsroom" continues now with brooke baldwin. >> thank you so much. hi, everyone. i'm brooke baldwin. so exciting. seven hours and counting until the presidential debate tonight. mitt romney, he is gaining in two swing states. could this be romney's springboard? romney has whittled the president's lead, take a look. he's whittled the president's lead in the two percentage points in virginia. this is according to a poll released today by marist college, the wall street journal and also nbc news. two-point lead for obama, that's down five points last month. keep in mind we're talking virginia, that's 13 electoral votes there. and check it out, similar story for you in florida. 29 electoral votes there. now, a one-point, one-point lead for obama, down from four points in september. we should mention here that poll shows the president still with the seven-point lead in ohio. we can't forget about ohio. but speak
mammoth tooth. these are standard reports. the budget tax reports is through the end of the previous fiscal year. it shows we were within budget on the capital side. we are right now in the process of getting financial statements ready for year-end. the budget tax report does reflect operating budget is the subject of another item later on in the agenda. i will be happy to answer questions about that now or the time that item is called. the second report is the contract status report. the memo makes reference to another item we will talk about in more detail later on the agenda, which is changes to the dbe and fbe programs. the proposed dbe goal. that shows contract activities are proceeding as planned and shows our payments for the federal fiscal year to dbe is 7.2 million and 36.3 million to sbe through the three-quarters of the federal fiscal year so far. the third report is our investment report. shows our position in our bank account, the city and county equity pool and our trust account which holds land fill proceeds and the final report is inception, expenditure and revenue fo
] >> you still pay property taxes and you help to fund kids even though you don't have kids. >> stephanie: why am i doing that. >> and when your dogs go to college. >> why would you get into that. i don't have kids. it's go time. it's go time. it's go time. go time. you know what time it is. go time. it's go time. it's go time. what time is it rob? here comes the young turks go time! it's go time. oh is it? then it's go. go. go. go. go. go. go. go time. anybody? anybody? what time is it? oh, right. go time! only on current tv. it's go time. it's go time. go time. you know what time it is. go time. it's go time. it's go time. what time is it rob? here comes the young turks go time! it's go time. oh is it? then it's go. go. go. go. go. go. go. go time. anybody? anybody? what time is it? oh, right. go time! only on current tv. >>i jump out of my skin at people when i'm upset. they're doing this this corruption based on corruption based on corruption. >>that's an understatement, eliot. [ ♪ music ♪ ] >> announcer: stephanie miller. ♪ don't be sissy, just get dizzy ♪ ♪ why s
't. his plan is taxing millionaires and billionaires. his plan to improve education is to invest in the department of education, so the president also has to provide some real specifics here about what is going to be different from his last administration. >> one of the things that's going to be important for this president as he comes out there, in this twitter cycle, people have short memories. where were we four years ago? the country was afraid we would be in a great depression. this guy volunteers to be captain of the titanic after it hit the iceberg and we're still floating. that's a part of the context he has to remind the american people of. >> but i must say, that's a flawed premise. it's a flawed premise. >> we got hours to do that. i got to take a break. you say not specifics. >> i think we lie. we tell pollsters we want specifics. mitt romney has a 59-point plan. we don't want specifics. we want a vision. tell us what big thing you're going to do to change. >> a reality check team is warming up and we've caught one of the cans ming a misleading claim. first, this deba
eliminating a tax break for buying a new home which does seem to go against what you might anticipate given they're still trying to, they had a housing bubble like we did but are not on the other side of it yet. >> timothy geithner, i don't know if anybody remembers, the vociferous nature with which he said if you questioned his stress test, listen, this is 1932 numbers. you don't know anything about what we're doing. yeah. turned out he was completely right. >> we got the expletive. >> this is a family oriented show because the kids are all home watching us instead of going to show. >> all right. how do you end the third quarter on a profitable note? find out from cramer. his mad dash is next. meet the head of the blackberry mak maker's fan club. let's take a look at futures as we head to the last trading session of the week and for the quarter looking at a down open. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly
was constitutional since it was a tax. roughly the same, -- the percent that knew that the decision to downgrade the american economy from the highest credit rating, standard and poor blamed both democrats and republicans for the downgrade. when news media concentrates over extended periods of time over a matter of importance to the public, public knowledge rises. we have a public capable of learning. we do see increases in learning as news attention increases at debates focus more intensely on contrasting positions. next slide, please. we see that seeking at fact checking, a fact checking or news site, in order to find out whether a statement by one of the presidential candidates was correct or not is associated with higher levels of knowledge. the controversy this year about whether fact checking matters -- this association would suggest it does. there's the question, did more knowledgeable people simply come to the site? we have the causal inference wrong. in order to tighten down that inference, we control for those factors that might increase knowledge, such as closely following the campaig
is this issue of sequester. i've laid out a pretty simple straightforward plan, but the bush tax cuts expire as planned over 500,000, fix medicare, take away unnecessary subsidies. then you get a $100 billion annual cut down to a $23 billion in savings that i know we can find. it's time for specifics. it's time for action but it's time for working together. allen: thank you for this opportunity have this debate here today. tim, you can't talking about that plan. we still that mohammed jobs will be affected. you want to raise taxes on exxon mobil and others. i'd like to know what the impact on jobs. folks, there's a clear choice in this an election. and which approach will be best for jobs here in our country. i envision a better future than what we are entering today. steve asked me earlier about who are you targeting in your campaigns. you're asking me various personages. i think about 99% of the folks should be on our site. anybody uses electricity, anybody who drives a car, anybody who pays taxes, anyone who works for a living or wants a job or anyone who cares about their families future
law, federal taxes, a whole host of bedroll laws. it says, for the purpose of federal law, the word marriage means of a legal union between one man and one woman, husband and wife, and spouse refers only to a person of the opposite sex. that is the section of the law that president obama has declined to defend. at the house, they have created the bipartisan legal adviser group that is during the defense of these laws since the administration has advocated its role in defending it. -- has abdicated its role in defending it. there are several cases that have petitions for the court to decide amongst. the first one, probably the front runner, is a combination case of massachusetts nurses the department of human services. -- massachusetts vs. the department of human services. the equal protection clause violates the defense of mayor jack -- or the defense of marriage at-the people protection clause because there is no rational basis for it does not pass scrutiny. the idea of which level of scrutiny it must pass is a question. but they are happy to argue both. this case is interesting be
economics. they basically think that if we just spent another $5 trillion on tax cuts that fare the very wealthiest, then -- don't boo. vote. vote. vote. but their theory is these tax cuts for folks at the top, then prosperity and jobs will rain down on everybody else. deficit will magically go away, and we will live happily ever after. there's only one problem. we just tried this during the last decade. during the previous presidency. it didn't work. top down economics never works. the country doesn't succeed when only the rich get richer. we succeed when the middle class gets bigger. when more people have a chance to get ahead. more people have a chance to live up to their god-given potential. look, i don't believe we can get very far with leaders who write off half the nation as a bunch of victims who never take responsibility for their own lives. i've got to tell you, as i travel around ohio and as i look out on this crowd, i don't see a lot of victims. i see hard-working ohioans. that's what i see. we got students who are trying to work their way through college. putting in overtime
the state's senior citizens, biden said romney's plan to lower taxes would force the nation's elderly to pick up the tab. >> their plan they have for social security, the one they have now, would raise taxes on your social security. >> reporter: romney, who has accused the president of misleading the public on the subject of taxes repeated his pledge on the issue. >> i will not raise taxes on middle income americans. >> reporter: less than one week from his debate with the president, romney is trying to expand the election map boldly predicting twice during his visit to pennsylvania that he can win here. >> you know, i've got a little secret here. and that is that obama campaign thinks pennsylvania's in their pocket. they don't need to worry about it. and you're right and they're wrong. we're going to win pennsylvania. we're going to take the white house. >> reporter: it could be a questionable move. not only does romney have ground to make up in swing states like ohio and florida, the latest cnn poll of polls in pennsylvania shows romney trailing the president by ten points. republic
, if the dividend rate goes up to the marginal income tax rate, this market will give back some of the rally and it will limit the upside for next year. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on the senate outcome. but wiser minds will see the wisdom of helping the fed in its efforts to stimulate asset prices by not onerously raising taxes on the most important asset class other than homes. >> have you actually calculated a number? you said it would give back some of the rally. but is there a number or a percentage? >> 12-month price target is 1,500. we've written in our research that 1,600 would be a reasonable 2013 end. i need to see an acceleration in glob
to repeal the bush tax cuts. then he had his own 20% tax rate cut with no way to pay for it. it's not really clear where he stands vis-a-vis ryan and ryan's budget. he promised us his own budget, but it has yet to appear. and so there is no real coherence to the message now that he's finding himself out of the primary season. >> still about 40 days till election day. time to turn around. steve, we'll look at your charts a little later. >>> coming up next, we'll bring in chuck todd, joe klein of "time" magazine and paul simon, how about that. kerry washington also going to join us. >>> and up next, jim vandehei with a look at the "politico playbook" and steve ratner with reasons that may explain the surge in the polls. >>> first bill karins with a look at the forecast. >> unfortunately some rainy areas, new york city one of them. we saw that with our times square shot. another area, thunderstorms pushing into portions of jersey. if you're leaving the house in philadelphia, the rain has begun. i-95 from philly to wilmington, probably one of the worst highway drives. eventually these will work
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